The 2020 Mid-Year Economic Update_long

Kennametal Sales Decrease 14% in 2Q

The company reported a loss of $5.9 million, compared to a profit of $54.7 million in the second quarter of 2018.

Kennametal Inc. (NYSE: KMT), Latrobe, Pennsylvania, reported sales for the second quarter ended Dec. 31 of $505.1 million, a decrease of 14% from the previous year. The company reported a loss of $5.9 million, compared to a profit of $54.7 million in the second quarter of 2018.

Year-to-date, Kennametal reported sales of $1 billion, down 12.9% from the same period a year ago. Profit to date was $1.2 million, down from $114.7 million the first six months of fiscal 2018.

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